According to Heisenberg Upper-case letter founder and Keiser Report host Max Keiser, the toll of Bitcoin (BTC) would soon rally to $28,000. He believes the all-time high of BTC at $twenty,000 likely won't act as resistance.

Keiser, who is an early investor in unicorn Kraken and $100-million-worth Bitstamp, said:

"The $20,000 level for #Bitcoin won't pose whatever resistance. Nosotros won't run into whatsoever resistance till $28,000. A brief pullback and then the assault on $100,000 begins with renewed vigor."

In the past 12 days, the price of Bitcoin has increased from $ix,200 to $12,000, marker the highest price in over a twelvemonth. The cryptocurrency market place is benefiting from the strong momentum of Bitcoin and Ethereum's Ether.

Keiser reaffirms his $100,000 Bitcoin prediction

Throughout the Bitcoin rally in the past month, Keiser has continuously reaffirmed his position on the medium-term trend of BTC. He expects BTC to eventually surpass $28,000, and shoot for a new all-time high at half-dozen figures.

In late July, when the toll of Bitcoin first broke out of $xi,000, Keiser said a six-figure BTC is likely. Since then, BTC has confirmed $x,400 as a key support level, maintaining its momentum. He said:

"$28,000 is in play before we run into a pullback - and and so nosotros're heading to 6-figures."

Just on Aug. 2, as Cointelegraph reported, Bitcoin saw its start major pullback since mid-June. The toll of BTC fell abruptly from $12,000 to $10,500 within 15 minutes, causing $1 billion to become liquidated across the entire market.

The price of Bitcoin sees a sharp drop in a short period

The toll of Bitcoin sees a sharp drop in a short period. Source: TradingView.com

Keiser and other loftier-contour appear to be unfazed by the move and more often than not consider the cost action equally a shakeout. Both over-leveraged and low-leverage long contracts were flushed out in less than an hr, causing the marketplace to cool off.

Cryptocurrency trader Scott Melker said at that place were many bearish divergences prior to the driblet occurred. After such a strong rally in a short period, the market seemingly needed to stabilize from an overheated rally. He said:

"A $1700 BTC hourly candle (mostly in a few minutes) on extremely high volume, including a similar sell-off on ETH in the eye of the night? Cool. At that place were bear divs everywhere, as I mentioned."

Others come across a differing tendency for BTC, at least in the brusk-term

In the short term, some traders expect major cryptocurrencies, including Bitcoin and Ether, to demonstrate low volatility. Subsequent to a large price movement, BTC tends to plant a range and see a sideways action for several weeks.

Michael van de Poppe, a trader at the Amsterdam Stock Substitution, said altcoins could do good from a potential BTC sideways activeness. He said:

"The nigh likely case is that we'll take volatility on $BTC & $ETH as they determine their range. But over time (one week-two weeks) this volition commencement to drop. What do yous have to do? Yes, buy dips on altcoins. While everyone is focused on $BTC, your focus should be on alts."

While the brusk-term predictions of traders vary, many investors are seemingly positive virtually the medium-term trend heading into 2022. Various macro factors, such every bit a declining U.Due south. dollar and rising liquidity, could further heave BTC's current momentum.

PlanB, the well-known creator of the stock-to-menstruum (S2F) Bitcoin cost model, besides reaffirmed that BTC is on track to reach $100,000. He said post-obit its explosive rally, BTC is "perfectly on rails" to reach six figures.